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over the last four years the deficit has gone up. but 90% of that is consequence of two wars that weren't paid for. prescription drug plan that wasn't paid for. worst economic disaster since depression. >> dana: he got four pinocchios. >> greg: nobody is buying this. this is presidential equivalent of the dog ate my homework or the president ate my dog who ate my homework. let it go. it's over. both parties are to blame about spending. but he tied a rocket to it. you know? that is a fat guy tweaking. >> do we even know what kind of dog? >> dana: i don't really -- >> eric: talk walking down the street -- >> greg: who speaks for eaten dog. >> bob: good example of -- do go ahead. >> eric: to give you an example. okay. so -- [over talking ] under president obama whic thiss what we have gotten. $100, economic activity. it cost us $3 trillion. $300 in debt. but to get $300 in debt, you have to spend $700. you have to spend $700 to get the $100 economic activity under president obama. >> kimberly: don't give that to bob. >> eric: give me a
over the last four years the deficit has gone up. but 90% of that is consequence of two wars that weren't paid for. prescription drug plan that wasn't paid for. worst economic disaster since depression. >> dana: he got four pinocchios. >> greg: nobody is buying this. this is presidential equivalent of the dog ate my homework or the president ate my dog who ate my homework. let it go. it's over. both parties are to blame about spending. but he tied a rocket to it. you know? that is a...
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Oct 4, 2012
10/12
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. >> when i walked into the oval office, hi more than a trillion dollar deficit greeting me and we know where it came from. >> soon their approaches changeed. president obama versus mitt romney and is this round 1 or a knockout blow? the candidates are in a different place tonight and tom fitzgerald fooled their movements and turned -- turned into spin rooms. tom. >> reporter: the democratic position was that mitt romney's performance last night, in their words, is at odds with what he's saying on the campaign trail and privately, they're acknowledging what many have been saying, that governor romney had a good debate and the president is going to be under pressure to do better next time. the president tried to refrain the debate saying the mitt romney he saw last night had little resemblance to what the president said romney's policies are. governor romney himself, meanwhile s meeting with supporters in colorado. romney said the debate gave him a chance to frame the campaign for the country for what their choice would be. >> last night, i thought it was a great opportunity for the amer
. >> when i walked into the oval office, hi more than a trillion dollar deficit greeting me and we know where it came from. >> soon their approaches changeed. president obama versus mitt romney and is this round 1 or a knockout blow? the candidates are in a different place tonight and tom fitzgerald fooled their movements and turned -- turned into spin rooms. tom. >> reporter: the democratic position was that mitt romney's performance last night, in their words, is at odds...
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Oct 1, 2012
10/12
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he's increased the deficit a trillion dollars a year. so let's start with the failures of this administration. mitt romney has said look, we've got to cut spending, we're broke, we've overpromised, we've overspent -- >> but sir -- >> and -- >> governor, where would he cut the spending. >> let's trust him on that. >> you cut a lot of domestic -- we've already got a plan to cut a trillion -- $1.2 trillion. half of it is balanced on defense spending in a time of war. that's a mistake. and so i think we need to cut trillions of dollars in order to get our budget balanced. and you could start with cutting two or three or 4% almost across the board some of the things that other governors have done, by i think you target it in those areas where the spending has not produced tangible results in the quality of life for the people. i can just tell you, andrea, i did it in virginia, governors like christie and scott and kasic and walker have done it in all of their states, mitt romney did it when he was governor of massachusetts, $3.5 billion defic
he's increased the deficit a trillion dollars a year. so let's start with the failures of this administration. mitt romney has said look, we've got to cut spending, we're broke, we've overpromised, we've overspent -- >> but sir -- >> and -- >> governor, where would he cut the spending. >> let's trust him on that. >> you cut a lot of domestic -- we've already got a plan to cut a trillion -- $1.2 trillion. half of it is balanced on defense spending in a time of war....
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Oct 4, 2012
10/12
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no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about $3,600. the reason is, i believe we do best when the middle class does well. and by giving them those tax ts, they have a little more money in their pocket so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession we went through. they can buy a computer for their kid who is going off to college. it means they are spending more money, businesses have more profits and then hire more workers. now governor romney's proposal that he's been promoting for 18 months calls for a $5 trillion tax cu
no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about...
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Oct 1, 2012
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and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congress aes/ what does it take to get elected officials to tackle at an issue, increasing their taxes? >> let's start with the families. they will get their attention. the voters have to understand all this, which they did not, and voters need to understand what we have to do to get all this corrected, and they do not. if we ever get that over to the voters, they will vote for the people who are geared up, ready, and know how to do it and are running on that basis, and then we can change this country forever and get us back to where we used to be when i was a boy in the depression. why schoolteachers and would have been doctors, lawyers, indian
and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congress aes/ what does it take to get...
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Oct 3, 2012
10/12
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in half and we've had four years of trillion dollar budget deficits. these are promises and he's got to be held accountable for that. >> i hope mitt romney is listening to this and takes your advice. a debate of 90 minutes is a precious commodity and i'm saying that from romney's perspective, there are other issues that have a much better chance to move him forward than talking about solyndra. >> i got to leave it there, gentlemen. i know, did -- please stay with cnbc for tonight's coverage. i'm larry kudlow. thanks for watching. [ male announcer ] the 2013 smart comes with 8 airbags, a crash management system and the world's only tridion safety cell which can withstand over three and a half tons. small in size. big on safety. which can withstand over three and a half tons. and every day since, two years ago, the people of bp made a commitment to the gulf. we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover cleanup costs. today, the beaches and gulf are open for every
in half and we've had four years of trillion dollar budget deficits. these are promises and he's got to be held accountable for that. >> i hope mitt romney is listening to this and takes your advice. a debate of 90 minutes is a precious commodity and i'm saying that from romney's perspective, there are other issues that have a much better chance to move him forward than talking about solyndra. >> i got to leave it there, gentlemen. i know, did -- please stay with cnbc for tonight's...
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Oct 2, 2012
10/12
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we have seen a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper, lael, in china is the first question, the second question is the republican nominee, mitt romney, has accused the obama administration of not being tough enough on china. the third question you have a report coming out october 15th on whether china is a currency manipulator. what are you going to say? >> well, let me just start with your first question. china's leadership team is undergoing a transition process and confront important questions how they are going to take forward their economic policy. steve, as you know, since day one, president obama's been extremely focused on achieving a mor
we have seen a budget come out that continues to bring the deficit down to sustainable levels. europe has pledged to work in partnership with spain to make sure its banks get recapitalized and continue to afford a access the markets. we will see as they work in the partnerships the days ahead again, they have the tools and we see the political will on the part of the spanish go >> you watch spain, you just got back from china. i have a bunch of questions about china, stories in the paper,...
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the deficit is over 16%. that's the types of things i would start doing and on their brass tax facts that they can be using and we're making it vague and all of the things that we have in common as republicans with president obama but we do not. >> well, i mean -- look, debates are not just about landing punches. real people look at debates and say, what kind of a person are you? what kind of leader are you? what kind of person are you? if he doesn't communicate what kind of he person he is, no one is going to vote for him. >> meghan, she's like a straight shooter. >> i'm at my breaking point with this. and i like governor romney. >> we don't have to agree on everything but at least you're candid. meghan mccain and richard wolffe, thank you for your time tonight. as i've said before, this election is not about obama. it's about your mama. new polls show that the public thinks the big issue at stake on this election day, including medicare, social security, and our safety net. but, first, the right double stan
the deficit is over 16%. that's the types of things i would start doing and on their brass tax facts that they can be using and we're making it vague and all of the things that we have in common as republicans with president obama but we do not. >> well, i mean -- look, debates are not just about landing punches. real people look at debates and say, what kind of a person are you? what kind of leader are you? what kind of person are you? if he doesn't communicate what kind of he person he...
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Sep 28, 2012
09/12
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more jobs will slash that deficit. >>> our third story, another day, another bad set of numbers for mitt romney. there are two new polls today by the american research group and they have mitt romney trailing president obama in two more swing states. five points in new hampshire and two in virginia. although i wanted to highlight the virginia one. there had been other polls to show that gap wider. this would be a much better than expected result than some of the others we've seen. this week -- has not been kind to the republican candidate as polls have shown him falling behind the president. but he is not showing any change in confident. >> i've got a little secret here and that is that obama campaign thinks that pennsylvania is in their pocket. they don't need to worry about it. and you're right and they're wrong. we're going to win pennsylvania. we're going to take the white house. >> he's going to have to overcome a big deficit to do it, but people do like a comeback kid. max, jen, the obama campaign press secretary. two very different problems. one, you don't want to get complacent a
more jobs will slash that deficit. >>> our third story, another day, another bad set of numbers for mitt romney. there are two new polls today by the american research group and they have mitt romney trailing president obama in two more swing states. five points in new hampshire and two in virginia. although i wanted to highlight the virginia one. there had been other polls to show that gap wider. this would be a much better than expected result than some of the others we've seen. this...
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budget deficit. douglas you're going to text a living be jesus out of the middle class and that's the unfortunate reality is that there aren't enough rich people to tax to close the deficit you could tax all the rich people everyone over two hundred fifty thousand dollars at one hundred percent of their and then you'd still have a deficit so of course the problem with doing that is that the second year and nobody would make more than two hundred forty nine thousand dollars they'd all go to the beach toys for the rest of the year. and and that's the challenge that you have is that trying to use tax policy as a means of addressing overspending does not work and yet we have drivers of spending in this country specifically health care which is turf following monopoly protections built all throughout the system all of which wind up costing us ridiculous about somebody and then defense which we spend a crazy amount of money on in no small part because we have had our head in the sand for thirty five years
budget deficit. douglas you're going to text a living be jesus out of the middle class and that's the unfortunate reality is that there aren't enough rich people to tax to close the deficit you could tax all the rich people everyone over two hundred fifty thousand dollars at one hundred percent of their and then you'd still have a deficit so of course the problem with doing that is that the second year and nobody would make more than two hundred forty nine thousand dollars they'd all go to the...
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one more point*. >> we had this discussion before the. >> in order to reduce the deficit there have to be revenue in addition to cut. >> mitt romney has ruled out revenue. >> absolutely. neil: okay. i think the gist of that was how to get the deficit under control in have to have a mix of spending cuts and tax increases. and what about the president in a mitt romney to some ratio? and that it would not cut it for him. i don't think he scored. i think romney clearly one. he does need to provide more specifics, but i think he was in command. he made a couple of statements that need to be clarified. and he does not want more revenue but he wasn't true growth not taxes. what do you define as more revenue? as compared to current gdp your under current law? we are under much higher levels than before. to thing surprised me. obama's said social security doesn't have a problem. it needs tweeting. it is underfunded $8 trillion and he also said his idea was not that different than governor romney's. especially since the president has not said much but when the president compared himself to bill
one more point*. >> we had this discussion before the. >> in order to reduce the deficit there have to be revenue in addition to cut. >> mitt romney has ruled out revenue. >> absolutely. neil: okay. i think the gist of that was how to get the deficit under control in have to have a mix of spending cuts and tax increases. and what about the president in a mitt romney to some ratio? and that it would not cut it for him. i don't think he scored. i think romney clearly one....
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can you tell us otherwise you will end up with $40 trillion deficit, which tax loopholes will you close? >> kimberly: playing the role of mitt romney, eric bolling. >> eric: when you lower taxes and let people keep more of their money you bring growth back. >> bob: we have seen that work. >> kimberly: he won the debate. that easy. andrea what is your question? >> andrea: bill clinton spoke at the convention and he seemed to help barack obama. i am going to bring up bill clinton. president obama, when bill clinton left office he balanced the budget, cut social programs the unemployment number was low. urn your watch, the opposite happened. we have seen the budget been busted. so how are you like bill clinton? that is a tough question for him to answer. if it's me, i ask him, listen, i release my taxes. you have yet to release academic records, the white house records, see what he says. that would be tougher to answer. >> bob: for eight years we were all in a coma. curious. >> kimberly: bob is out of order. we're bring you back in "e" block. >> bob: clinton to obama. >> kimberly: guess wh
can you tell us otherwise you will end up with $40 trillion deficit, which tax loopholes will you close? >> kimberly: playing the role of mitt romney, eric bolling. >> eric: when you lower taxes and let people keep more of their money you bring growth back. >> bob: we have seen that work. >> kimberly: he won the debate. that easy. andrea what is your question? >> andrea: bill clinton spoke at the convention and he seemed to help barack obama. i am going to bring up...
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Sep 29, 2012
09/12
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let me talk about what i would cut in order to grapple with our deficit and our debt. i'd end the war, i've worked to end the war in afghanistan which costs us $ billion a week. i would get rid of the sweetheart deal tommy thompson negotiated as head of medicare that makes it illegal for drug companies to bargain with -- medicare to bargain with drug companies for better prices for seniors that one costs us $15 billion per year. i'd get rid of corporate welfare for big corporate farms and big oil. i'd also let the bush tax cuts for the top % expire. i also want to look at the record contrast. i already told you about the policies that tommy thompson supported that added over $3.5 trillion to the debt when president bush was in office. i opposed those irresponsible plans that added to our debt. so now in the future, tommy thompson supports a plan that adds trillions more in tax cuts for the very wealthy and raises taxes on the middle class. that's the wrong scription for tackling our -- prescription for tackling our debt. >> our next question, from robert kennedy, direc
let me talk about what i would cut in order to grapple with our deficit and our debt. i'd end the war, i've worked to end the war in afghanistan which costs us $ billion a week. i would get rid of the sweetheart deal tommy thompson negotiated as head of medicare that makes it illegal for drug companies to bargain with -- medicare to bargain with drug companies for better prices for seniors that one costs us $15 billion per year. i'd get rid of corporate welfare for big corporate farms and big...
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Oct 2, 2012
10/12
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and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congresses/ what does it take to get elected officials to tackle at an issue, increasing their taxes? >> let's start with the families. they will get their attention. the voters have to understand all this, which they did not, and voters need to understand what we have to do to get all this corrected, and they do not. if we ever get that over to the voters, they will vote for the people who are geared up, ready, and know how to do it and are running on that basis, and then we can change this country forever and get us back to where we used to be when i was a boy in the depression. why schoolteachers and would have been doctors, lawyers, indian ch
and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congresses/ what does it take to get...
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debate can any amount of rhetoric fill the gaps in their deficit plans and where is the country headed without sound mass flow and sound money we'll hear from blogger author and radio host karl denninger of the market on that and while the budget plans of presidential candidates may not add up we already know the lack of government planning has the us poised for this. fiscal cliff looming the fiscal cliff it's looming gorged partisan politics could push america over of this cliff. but daunting name and the right the side what exactly does this entailed one break down the potential damage and word on a day and give you a glaring example of the wasteful costs of political uncertainty all ready documented plus we have a potpourri of manufacturing data out some points to opposite directions for the u.s. and of flu of it points to negative. outcomes in europe now our guest will help us make sense of these ingredients and tell us why he thinks the u.s. recession is already baked into the cake let's get to today's capital account. so incumbent obama and. under mitt romney are getting ready to
debate can any amount of rhetoric fill the gaps in their deficit plans and where is the country headed without sound mass flow and sound money we'll hear from blogger author and radio host karl denninger of the market on that and while the budget plans of presidential candidates may not add up we already know the lack of government planning has the us poised for this. fiscal cliff looming the fiscal cliff it's looming gorged partisan politics could push america over of this cliff. but daunting...
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including paul ryan tight-lipped on the specifics of the romney plan to cut taxes but not blow up the deficit. >>> and no animals were harmed in the making of this video. skater dude meet deer. that clip later in the show. first to the news live at 5:30 a.m. at 30 rock in new york city. >>> we begin with stories from overseas where foreign policy is coming out as the central topic in the election with much of the recent focus on the attack on bengahzi, libya. romney advisers are split on how broadly they should hit the president over his handling of the attack and why it took so long to acknowledge it was an act of terrorism. some romney advisers to keep the focus on the economy, some are saying romney should have a major foreign policy speech days after the debate. over the weekend, the white house was on the defensive after the friday's announcement that the deadly assault on the u.s. consulate in bengahzi was deliberate and organized. peter king of new york called on susan rice to resign as u.s. ambassador to the united nations after she initially claimed the attack on the consulate was pa
including paul ryan tight-lipped on the specifics of the romney plan to cut taxes but not blow up the deficit. >>> and no animals were harmed in the making of this video. skater dude meet deer. that clip later in the show. first to the news live at 5:30 a.m. at 30 rock in new york city. >>> we begin with stories from overseas where foreign policy is coming out as the central topic in the election with much of the recent focus on the attack on bengahzi, libya. romney advisers...
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Sep 29, 2012
09/12
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there is no one who is saying we should widen the deficit. everyone exceeds to it that the real debate is about how we get it done and also the nature of the government that is the consequence of how gets them. obviously government will grow. if you shrink the budget the government will retract and that has implications to the budget. it's an ongoing debate always in america but if you think about what has been accomplished in the last year everyone knows we have to solve the problem. how to solve what has resulted in an impasse and, but the fact that everybody agrees it needs to be solved is really the most important thing. >> but it seems to me that it's a math problem and as you said, if you have got you know slow but stable growth for an extended period of time here than ultimately the raponos have to go up and expenditures have to go down. neither of which is particularly healthy in terms of economic growth. if you have taxes going up in the united states and expenditures going down ultimately that has to happen if you are going to solve
there is no one who is saying we should widen the deficit. everyone exceeds to it that the real debate is about how we get it done and also the nature of the government that is the consequence of how gets them. obviously government will grow. if you shrink the budget the government will retract and that has implications to the budget. it's an ongoing debate always in america but if you think about what has been accomplished in the last year everyone knows we have to solve the problem. how to...
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i want to turn to the deficit. mitt romney claims with these tax cuts, he will not add to the deficit. >> my number one principle is, no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. part one. so there is no economists can say mitt romney's tax plan adds $5 trillion. my plan is not to put in place any tax cut that will add to the deficit. >> look at the facts here again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says its by reducing deductions and closing loopholes, but hasn't said which or how many. so the verdict here is simply in complete. we just don't know, wolf. >> he also suggests repeatedly, john, that by improving the economy, there would be a dynamic scoring as they call it more revenue coming in, because more money would be coming into the taxes, businesses and individuals could be doing better. as a result, he's justifying the trillion dollar tax cut if you will. >> hence the grade incomplete. >> he hasn't offered a lot o
i want to turn to the deficit. mitt romney claims with these tax cuts, he will not add to the deficit. >> my number one principle is, no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. part one. so there is no economists can say mitt romney's tax plan adds $5 trillion. my plan is not to put in place any tax cut that will add to the deficit. >> look at the facts here again. mitt romney has not laid out specifics for how he would pay for his...
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fourth, a balanced plan to reduce our deficit by... four trillion dollars over the next decade, on top of the... trillion in spending we've already cut. i'd ask the wealthy to pay a little more. and as we end the war in afghanistan... let's apply half the savings to pay down our debt and... use the rest for some nation-building... right here at home. it's time for a new economic patriotism, rooted in the... belief that growing our economy begins with a strong... thriving middle class. read my plan. compare it to governor romney's, and decide for yourself. thanks for listening. i'm barack obama and i appro this message. >> there was a protest today in northwest washington over smart meters. they allow passengers to pay for a cab using a credit card and a back seat. >> opponents say they can start fires in violate privacy laws. >> in this country and world has grown around the technology revolution. studies show they are safe. we have a lot of academic papers we are happy to let anyone read. >> the upgrade program for cabs was put on hold last month. >> a frightening scene in bethesda as
fourth, a balanced plan to reduce our deficit by... four trillion dollars over the next decade, on top of the... trillion in spending we've already cut. i'd ask the wealthy to pay a little more. and as we end the war in afghanistan... let's apply half the savings to pay down our debt and... use the rest for some nation-building... right here at home. it's time for a new economic patriotism, rooted in the... belief that growing our economy begins with a strong... thriving middle class. read my...
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no quiero aumentar el déficit. te puedes referir a ese aumento de déficit pero no es mi plan. miremos la historia, mi plan no se parece a nada que se haya intentado antes. quiero reducir los tiempo impositivos, pero también, reducir las excenciones y créditos al mismo tiempo. se mantienen los ingresos, pero conseguimos que más gente trabaje. mi prioridad que más gente vaya a trabajar en estados unidos. ellos sufren en este país. hablamos de las pruebas, miremos las pruebas de los últimos 4 años. son extraordinarias 20 millas de personas que dejaron de buscar trabajo en este país. cuando el presidente asumió el cargo teníamos 20 millones td personas que recibían cupones de alimentos, 47 millones de personas que los reciben hoy. el crecimiento económico es más lento que el año anterior, statu quo no funcionara para el pueblo americano que lucha hoy. >>> estamos hablando de la economía y esto es teóricamente, todavía estamos en el segmento sobre la economía y específicamente sobre qué hacer en cuanto al déficit federal la deuda federal. y la pregunta y cada u
no quiero aumentar el déficit. te puedes referir a ese aumento de déficit pero no es mi plan. miremos la historia, mi plan no se parece a nada que se haya intentado antes. quiero reducir los tiempo impositivos, pero también, reducir las excenciones y créditos al mismo tiempo. se mantienen los ingresos, pero conseguimos que más gente trabaje. mi prioridad que más gente vaya a trabajar en estados unidos. ellos sufren en este país. hablamos de las pruebas, miremos las pruebas de los...
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does this mean to he would tackle the deficit? >>> ann romney dishes to ja leno about mitt. >> would you say he is frugal or cheap? >> cheap. >> cheap. really cheap. okay. >> do you want to know what he does when he leave the house? he turns off the h water heat. >>o yo knot hoe w we come back from the house, he forgets he has to turn the hot water heater on, cold shers, they're not that bad. >> indeed. good day. i'm andrea mitchell live in new york. dueling messages in ohio where in a few moments both ndides wi beelin ch appearing only about 100 miles from each other but with sharply different messages. as president obama widens his ohio lead in the latest polls, joining me for our daily fix, chris cizilla, managing editor of post politics.com and "whington po" pic reporter karen tu multi. chris, first talk about the polls. how significant is it the double-digit lead in some polls now, cbs/"new york times" poll the trend first in "the washington post" and our wl street jourl/nbwsols weiso moving fairly steadily into the obama cam
does this mean to he would tackle the deficit? >>> ann romney dishes to ja leno about mitt. >> would you say he is frugal or cheap? >> cheap. >> cheap. really cheap. okay. >> do you want to know what he does when he leave the house? he turns off the h water heat. >>o yo knot hoe w we come back from the house, he forgets he has to turn the hot water heater on, cold shers, they're not that bad. >> indeed. good day. i'm andrea mitchell live in new york....
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we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- how we pay for that, reduce the deficit and making the investments we need without dumping the cost on the middle- class americans. that is one of the central questions of this campaign. >> you have spoken about a lot of different things. governor romney, do you have a question you would like to ask directly about something he just said? >> i do not have a tax-cut scale you're talking about. we have to provide tax relief to people in the middle class. i will not reduce the share of taxes paid by high income people. they are doing fine in the economy. the people who are having a hard time are middle-income americans. under the president's policies, they have been bu
we have to close our deficit. we will discuss how we deal with our tax code and how we make sure we are reducing spending in a response away and have enough revenue to make those investments. governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cut. $2 trillion in additional military spending -- how we pay for that, reduce the deficit and making the investments we need without dumping the cost on the middle- class americans. that is one...
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if you think about it i would argue that the inability of the government to fix this borrowing debt deficit issue in the book, vice president biden's chief of staff, talking about the economic crisis in 2011, that's exactly what is going on. there is so much evidence that it is the biggest future. we are on the path becoming europe and greece. you just can't keep borrowing money. there is a stunning and fiction in this country, and we need some sort of we need some serious intervention. in the book, what i attempt to do is take people to the presidents and leaders and tell you exactly because of the luxury of time and my publisher, simon & schuster, i declined to get the meeting notes to get the exact detail to interview president obama and speaker boehner and the key players in this. i just want to take one quick snapshot from what happened that we didn't know about, which is critical. when the cops pull up less when the president was upset, he called the congressional leaders on a saturday morning at 11:00 o'clock a.m. the democratic and republican leaders were trying to work out their ow
if you think about it i would argue that the inability of the government to fix this borrowing debt deficit issue in the book, vice president biden's chief of staff, talking about the economic crisis in 2011, that's exactly what is going on. there is so much evidence that it is the biggest future. we are on the path becoming europe and greece. you just can't keep borrowing money. there is a stunning and fiction in this country, and we need some sort of we need some serious intervention. in the...
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he said he would cut the deficit in half. we still have trillion dollar deficits. if you are reelected, we will get to a trillion dollar debt. you have said he will cut the deficit in half. you find $4 trillion in cuts. we still show trillion dollar deficit a year. that does not get the job done. why is it that i do not want to raise taxes? i do not want to raise taxes on people. in 2010, he said he would extend the tax policies we have now and not raise taxes because when the economy is going so like this, you should not raise taxes on anyone. the economy is still going slow. it is growing more slowly now than when he made that statement. if he believed the same thing -- the reality is it is not as wealthy people. it is not just donald trump you are taxing. it is the people that employ 1 quart of the workers that are taxed as individuals. you raise taxes and kill jobs. that is why the national federation of independent businesses said your plan will kill 7000 jobs. >> but stay on the tax system for a moment. the deficit there has to be revenue in addition to cuts.
he said he would cut the deficit in half. we still have trillion dollar deficits. if you are reelected, we will get to a trillion dollar debt. you have said he will cut the deficit in half. you find $4 trillion in cuts. we still show trillion dollar deficit a year. that does not get the job done. why is it that i do not want to raise taxes? i do not want to raise taxes on people. in 2010, he said he would extend the tax policies we have now and not raise taxes because when the economy is going...
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they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis
they're trying to get the deficit down to 4.5% deficit. quite frankly, that is pie in the skil according to pretty much all the analysts and the economists. and it's just a question of how much they'll miss by. because this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16%...
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they're buying the entire deficit. >> do you think he's right? >> it's an important thing. you don't want to get into what we call the fiscal dominant regime where the fiscal authority or the congress and the president, they're borrowing a lot of money and the fed's role is to keep the interest rates low. that will end in tears. that is a bad policy. i'm fairly certain that none of my colleagues on the fomc are interested in going that direction. we're going to pursue monetary policy that is the right one for the nation, but it's not one that's trying to enable irresponsible fiscal policy. >> what are you hearing from business managers out there today? one of your colleagues said many times business managers are holding back from spending because of the uncertainty. they don't know what tax rates are going to be next year. do you agree with that? >> yeah, there's no question. my business contacts say the same thing here around the eighth district. the uncertainty around the future tax situation is serious. the uncertainty around the future of the u.s. economy is a serious d
they're buying the entire deficit. >> do you think he's right? >> it's an important thing. you don't want to get into what we call the fiscal dominant regime where the fiscal authority or the congress and the president, they're borrowing a lot of money and the fed's role is to keep the interest rates low. that will end in tears. that is a bad policy. i'm fairly certain that none of my colleagues on the fomc are interested in going that direction. we're going to pursue monetary...
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to slash forty billion euros out of their deficit by next year as we've seen other nations that have taken the poison pill of austerity particularly greece these new spending cuts will only make the situation worse situation in spain is already so bad that the cataloging a region of spain called for an early election at the end of november which could be a vote for independence from spain altogether is the region runs into its own financial problems so where is all this leading to here for some answers is david marty activist member of the international organization for the participatory society in madrid chapter and co-author of the book fanfare for the future occupy strategy david welcome and thanks for joining us from madrid thanks for staying up late to talk with us throughout thank you for having me much appreciate it we've seen pretty violent protests in the streets of spain over the last few days how unstable is the country what reaction is there to and is it all a reaction in this new budget. if you tried to. see violence isn't instability miles would just only took place bet
to slash forty billion euros out of their deficit by next year as we've seen other nations that have taken the poison pill of austerity particularly greece these new spending cuts will only make the situation worse situation in spain is already so bad that the cataloging a region of spain called for an early election at the end of november which could be a vote for independence from spain altogether is the region runs into its own financial problems so where is all this leading to here for some...
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romney narrowed deficit about who cares for the middle class. there are kind of four important metrics i've been paying a lot of attention to within our poll and other polls that are kind of lower in the cross tabs but matter a great deal which is, who is a strong leader? who can get things done? and those have been neck-and-neck. romney has had the lead on who can actually get things done and, i think he will, he will build on that. but the fact that more people thought romney would be the best of the two candidates to actually accomplish something shows there was upside potential and upside growth. you remember back in 2008, i've been saying this for months, at the height of his popularity barack obama only got 52.9% of the popular vote. so, even though he still is leading in the swing states and those will tighten up, romney does have a floor that he can build off of from 2008. >> holman, a great american. we appreciate it. enjoy the rest of your night in denver. this is what i call an honor. craig gordon, runs our coverage. don't even know w
romney narrowed deficit about who cares for the middle class. there are kind of four important metrics i've been paying a lot of attention to within our poll and other polls that are kind of lower in the cross tabs but matter a great deal which is, who is a strong leader? who can get things done? and those have been neck-and-neck. romney has had the lead on who can actually get things done and, i think he will, he will build on that. but the fact that more people thought romney would be the...
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because it will sort of focus our priorities, getting the country's debt and deficit under control. what do you think about that? >> well, sequestration cuts the good along with the bad. not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would force congress to act and hasn't forced congress to act yet. we hope it will in the lame duck, that they'll take thoughtful steps by going after wasteful programs first. >> you're right. it hasn't gotten them to act yet. ryan, good to talk to you. thanks so much. >> thanks so much for having us. >> see you soon. "fast money" begins at the top of the hour. >>> our traders give you the top picks for the fourth quarter. then we'll have all the headlines coming from the value investing congress. our traders will give you the trade. we'll also have the founder of 13 d monitor tell you how you could inve
because it will sort of focus our priorities, getting the country's debt and deficit under control. what do you think about that? >> well, sequestration cuts the good along with the bad. not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would...
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we take the deficit seriously. we need to bring the deficit down so that companies can grow. >> again, i think that the whole politics and envy is a sad chapter in politics and i would only suggest that i would bring to the table. the president obama and ann mclane kuster idea -- the individuals with incomes of more than $200,000 per year, bringing to the table. i'll consider it. show me where he will cut that? >> okay, thank you so much for that. we will have 30 seconds for this round. we begin with you. >> do you think any changes are needed to benefit new hampshire's business community? >> what i have heard about mostly from the business community in terms of integration are the high-end technical employees that they would like to be able to talk about going to new hampshire. as well as, on the art or cultural sector, another is an issue about bringing in part-time work on the road in hopkinton, and i know we need to bring people in. but in general, i have not heard any immigration issues in new hampshire. i thi
we take the deficit seriously. we need to bring the deficit down so that companies can grow. >> again, i think that the whole politics and envy is a sad chapter in politics and i would only suggest that i would bring to the table. the president obama and ann mclane kuster idea -- the individuals with incomes of more than $200,000 per year, bringing to the table. i'll consider it. show me where he will cut that? >> okay, thank you so much for that. we will have 30 seconds for this...
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no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason is because i believe that we do best when the middle- class is doing well. by giving them those tax cuts, they have more money in their pocket. maybe it does not buy new car. they are in a better position to weather the extraordinary recession we went through. they may be able to y new computer for their kid who is going off to college. governor romney's proposal that he has been promoting for 18 months calls for of five trillion dollars tax cut on top of $2 trillion of additional spending for our military. he is saying he is going to pay
no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason...
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you've got to cut the deficit. you've got to stop spending more money than we take in. and finally, champion small business. have tax policies, regulations, and healthcare policies that help small business. we put those in place; we'll add twelve million new jobs in four years. i'm mitt romney and i approve this message.
you've got to cut the deficit. you've got to stop spending more money than we take in. and finally, champion small business. have tax policies, regulations, and healthcare policies that help small business. we put those in place; we'll add twelve million new jobs in four years. i'm mitt romney and i approve this message.
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that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked all her life, put in this money, and understood that there was a basic guarantee under which she could not go. that's the perspective i bring when i talk about what's called entitlements. the name implies some sort of dependency on the part of folk. these are folks that have worked hard, like my grandmother and millions are counting on this. my approach is to say how do we strengthen the system over the long term? in medicare, what we did, we said we are going to have to bring down the costs if we are going to deal with long-term deficits. to
that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked...
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that tax increase only pays for 8 percent of the proposed deficit spending. that's not a ticket to recovery. >>neil: you have made the argument clearly, the rap against the guys at the top of your ticket, he is not, he is very smart, he knows what he is doing, et cetera, but he lacks the passion, and i am sure you heard the stories that a number of g.o.p. money guys and operatessives have said, get ryan out there, get him going. is that true in is this part of an effort to showcase the passion of the ticket? >>guest: i do so many tv interviews, i have done over 100. i am doing them regional, and i'm talking to richmond, dayton, to wisconsin tv, colorado springs, yesterday, and ft. collins. >>neil: are you troubled by the wisconsin poll, and they are just polls, but for -- this is a snapshot of the moment -- but trailing further. >>guest: i don't believe the validity of that poll. here the deal, we are going to give the country a choice. the country deserves to have a choice. the choice we are offering is, do you want the traditional american idea of limited g
that tax increase only pays for 8 percent of the proposed deficit spending. that's not a ticket to recovery. >>neil: you have made the argument clearly, the rap against the guys at the top of your ticket, he is not, he is very smart, he knows what he is doing, et cetera, but he lacks the passion, and i am sure you heard the stories that a number of g.o.p. money guys and operatessives have said, get ryan out there, get him going. is that true in is this part of an effort to showcase the...
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unveiling a 75% supertax rate for the wealthy as part of the eurozone country's plan to bring down its deficit. so which other countries have super-high tax rates? and what are the implications here in the u.s., robert frank? >> reporter: well, franco francois allan brought bad news for the french today. this increases their tax rate from 48% to a whopping 75% income tax rate. this would apply to people who make more than 1 million euros a year. and france now by far has the highest income tax in the world. if you look at this chart you see france there at number one, second place is aruba followed by sweden, 56%. then the u.s. way down on the ranks at number 35. sort of in the middle of the whole list with its again 35% top tax rate in the u.s. early estimates said this 75% tax rate would only affect around 30,000 taxpayers. but i've been on the phone with a lot of french tax lawyers this morning. they said the number's far lower. maybe only 2 to 3,000 people in france would actually pay this tax. the reason is that this tax really only applies to salary and ordinary incomes. it doesn't apply
unveiling a 75% supertax rate for the wealthy as part of the eurozone country's plan to bring down its deficit. so which other countries have super-high tax rates? and what are the implications here in the u.s., robert frank? >> reporter: well, franco francois allan brought bad news for the french today. this increases their tax rate from 48% to a whopping 75% income tax rate. this would apply to people who make more than 1 million euros a year. and france now by far has the highest...
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democrats to be talking about new spending at a time when people are very concerned about debt and deficit. but as these folks continue to believe that their man is going to carry the day on november november 6th, they probably want to get in line first. neil: if there is always the risk when word of this leaks out that they look like they are decorating the office before they are guaranteed they're going to have it. now, if you are barack obama you already have it. what is to stop you from san amide looked at that new drug. you know what i mean. it does seem to be a sense that, you know, they are planning for a victory that might not happen. if this gets out then it could strike a lot of voters as, at the very least, arrogant. >> i think that they are forgetting that president obama is not the only piece of the puzzle. you still have a republican house which republicans that it will a lot to. mitt romney loses, paul ryan will still be the budget chairman. democrats can line up all these big spending initiatives if they want to, but the fact is that the house is still going to be majority
democrats to be talking about new spending at a time when people are very concerned about debt and deficit. but as these folks continue to believe that their man is going to carry the day on november november 6th, they probably want to get in line first. neil: if there is always the risk when word of this leaks out that they look like they are decorating the office before they are guaranteed they're going to have it. now, if you are barack obama you already have it. what is to stop you from san...
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there's no one who is saying we have to widen the deficit or the deficit, as wide as it is, it's not a problem. everyone exceeds to it, but the debate is about how to get it done, and also, the nature of the government that's the consequence of how it gets done. if you spend more, government grows. if you shrink the budget, government contracts, and that has implications for the republic that have been debated since jefferson and hmm lton. it's an ongoing debate always in america, but if you think about what's been accomplished in the last year, everyone knows we have to solve the problem. how we solve it resulted in the impasse, but the fact everyone agrees it needs to be solved is really the most important thing. >> but it seems to me that it's a math problem, and as you said, if you've got, you know, slow, but stable growth for an extended period of time here, then ultimately, revenues have to go up and expenditures have to go down. neither of which is particularly healthy in terms of fostering economic growth. if you have taxes going up in the united states and expenditures go do
there's no one who is saying we have to widen the deficit or the deficit, as wide as it is, it's not a problem. everyone exceeds to it, but the debate is about how to get it done, and also, the nature of the government that's the consequence of how it gets done. if you spend more, government grows. if you shrink the budget, government contracts, and that has implications for the republic that have been debated since jefferson and hmm lton. it's an ongoing debate always in america, but if you...
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mitt romney also talked about the deficit last night. and he claims that even with his tax cut, he will not add to the defici deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist that can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the deficit. >> the problem in both of these claims is a lack of specifics. what the president is assuming, the reason we said false on his claim, he basically is assuming if he just did a tax cut and nothing else, then it would include this giant amount of tax breaks for people out there. but that's what mr. romney is saying he won't do. he's saying he has all these specifics in terms of cutting deductions, finding ways of closing loopholes so that people would pay more and there wouldn't be this giant tax cut but he wouldn't say what that would be. this lack of
mitt romney also talked about the deficit last night. and he claims that even with his tax cut, he will not add to the defici deficit. >> my number one principle is there will be no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. that's part one. so there's no economist that can say mitt romney's tax plan adds $5 trillion if i say i will not add to the deficit with my tax plan. my plan is not to put in place any tax cut that will add to the...
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[laughter] on the deficit it was that the deficits do not matter. biology boggles some of them, that guy in missouri, too, for that matter. what happens the morning after the election from a loses? i wonder about the morning after the morning after though. we have gone way too far to the right and we need a different republican party. we need a center-right republican party which i think the country really needs. it needs to be a check on the rate -- the left and center left and that is the only way we will get a check on these issues. >> history suggests the second term of clinton and reagan were the productive terms where they had big achievements. it's hard to know whether the republican party, where they will portion the blame if that happens. the question is how they decide to spend the next four years. i think it's very hard to tell, but there is some hope in looking back at both clinton and reagan. >> reagan was also considered a far right and it took running a far right republican party at the time by whoever the thomas friedman equivalent w
[laughter] on the deficit it was that the deficits do not matter. biology boggles some of them, that guy in missouri, too, for that matter. what happens the morning after the election from a loses? i wonder about the morning after the morning after though. we have gone way too far to the right and we need a different republican party. we need a center-right republican party which i think the country really needs. it needs to be a check on the rate -- the left and center left and that is the...
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if you want to talk about closing the debt, the deficit. allow fracking. frac away. by the way, there is nothing, never has been any proof of disease or anything -- >> greg: they tried it with breast cancer -- >> bob: i wasn't supposed to talk about the disease part. andrea made a good point. marellus shale runs from ohio, to upper new york state. our friend denny harton you met. friend from west virginia. he convinced me how safe fracking was. it's an important point. if you drive buss with natural gas, it seems you can drive anything with natural gas, right? >> bob: he told me we didn't have the infrastructure to carry natural gas. why not invest in infrastructure to carry natural gas? not have so much dependency on foreign oil. >> kimberly: welcome to the conservative party, bob beckel. >> andrea: can you spread that in your party >> eric: >> bob: when you have that much of an energy resource and you know it runs things, the only problem, of course, is that -- well, anyway. >> greg: k.g. -- >> kimberly: i'm for fracking all the way and anything that gives us energ
if you want to talk about closing the debt, the deficit. allow fracking. frac away. by the way, there is nothing, never has been any proof of disease or anything -- >> greg: they tried it with breast cancer -- >> bob: i wasn't supposed to talk about the disease part. andrea made a good point. marellus shale runs from ohio, to upper new york state. our friend denny harton you met. friend from west virginia. he convinced me how safe fracking was. it's an important point. if you drive...
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do we want four more years of trillion dollar deficits? i don't believe we can afford four more years like the last four years. lou: a new report highlights governor rome -- governor romney's criticisms showing household incomes fell by an average rate of more than 8%. the census bureau revealing the number of people in poverty rose by 3 million in the first three years of the obama administration. we'll take all of that here tonight with former economic adviser to president reagan, economists, author laffer, and digital politics editor, and former bush adviser brad blakeman to separate facts from fiction in the world of presidential polls and strategies. early voting has presidential votes cast in more than half the country by next week. shannon has our report. the president's poll numbers in ohio getting a boost from stronger economic numbers, but there's head winds pressuring the campaign. the white house chief correspondent, ed henry, reports. >> since early voting starts tuesday here in ohio, it was a familiar script for president oba
do we want four more years of trillion dollar deficits? i don't believe we can afford four more years like the last four years. lou: a new report highlights governor rome -- governor romney's criticisms showing household incomes fell by an average rate of more than 8%. the census bureau revealing the number of people in poverty rose by 3 million in the first three years of the obama administration. we'll take all of that here tonight with former economic adviser to president reagan, economists,...